Citigroup Inc. Has $12.47 Million Position in Enovis Corporation $ENOV

Key Points

• Citigroup Inc. has significantly reduced its stake in Enovis Corporation, cutting its holdings by 92.5% to approximately 326,259 shares.
• Equities analysts have lowered their price targets for Enovis, with Evercore ISI setting a new target of $46, while other firms have similarly decreased their projections.
• Enovis reported a quarterly earnings per share (EPS) of $0.79, surpassing analyst estimates and showing a year-over-year revenue increase of 7.5% to $564.50 million.

Citigroup Inc. reduced its position in Enovis Corporation (NYSE:ENOV - Free Report) by 92.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 326,259 shares of the company's stock after selling 4,031,785 shares during the quarter. Citigroup Inc. owned approximately 0.57% of Enovis worth $12,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Enovis by 266.7% in the first quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock worth $27,000 after purchasing an additional 536 shares during the period. Quarry LP lifted its position in Enovis by 506.1% in the fourth quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares during the period. GAMMA Investing LLC lifted its position in Enovis by 144.8% in the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock worth $45,000 after purchasing an additional 692 shares during the period. DekaBank Deutsche Girozentrale lifted its position in Enovis by 57.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,981 shares of the company's stock worth $74,000 after purchasing an additional 725 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Enovis by 56.2% during the fourth quarter. Sterling Capital Management LLC now owns 3,259 shares of the company's stock worth $143,000 after acquiring an additional 1,173 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Enovis Price Performance

Shares of NYSE:ENOV traded up $0.6240 during midday trading on Tuesday, reaching $30.1740. The company's stock had a trading volume of 150,667 shares, compared to its average volume of 1,195,269. Enovis Corporation has a fifty-two week low of $25.47 and a fifty-two week high of $49.83. The company has a market capitalization of $1.72 billion, a P/E ratio of -2.12 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.25 and a quick ratio of 1.15. The business's fifty day simple moving average is $30.26 and its 200-day simple moving average is $34.37.

Enovis (NYSE:ENOV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. The firm had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.The company's revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. As a group, equities research analysts expect that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Analysts Set New Price Targets

ENOV has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Needham & Company LLC dropped their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. UBS Group dropped their price objective on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Wells Fargo & Company dropped their price objective on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, JMP Securities dropped their price objective on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Enovis has an average rating of "Buy" and a consensus price target of $51.00.

Enovis Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.